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And the presumed motive is ... to sell sell stock?
What do you mean by fake? Is it that the information isn't true (questionable claim: they have 2000 employees), or that it was not even put up by Jonway?
Here's a basic question: is the primary business of this company mining, or water treatment?
Is there any website out there that is active for Zaap or Jonway? I can't find any.
I'm not sure who would want to buy now if they didn't want to buy before the financing. My guess is that nothing will happen until phase 1 is complete and they are looking for phase 2 financing.
From the Nov 1, 2018 news release:
"Following the Company’s news releases dated April 3, 2018, April 30, 2018, June 5, 2018, August 9, 2018, October 3, 2018 and October 16, 2018 (collectively, the “Prior Releases”), MGX determined that the most practical means of effecting the Distribution was by way of the Plan of Arrangement. As such, MGX no longer intends to issue any dividend-in-kind of MGX Renewables Shares to MGX shareholders and MGX no longer expects the Distribution to be made by way of MGX Renewables filing a prospectus with securities regulatory authorities. Neither the Company nor MGX Renewables has made any application to list the MGX Renewables Shares for trading on an exchange, no market currently exists for the MGX Renewables Shares, and the Prior Releases are qualified in their entirety by this news release."
So, on neither a US exchange, nor on a Canadian exchange. Not sure what the point of this is. Maybe I'll research what a "plan of arrangement" is.
Is this the sentence you are referring to?: "U.S shareholders will be eligible to receive the proposed distribution, however there is no guarantee ZincNyx shares will be listed on a qualified U.S. exchange." To me it sounds like we do get the shares. They will be shares listed on some Canadian exchange, so if you want to sell them you might have to pay a higher commission.
You make a good point: the fact that they are not penalized at all if there are delays in starting to produce is a very good thing.
Okay, I read the Arendas article. It is basically about as clear and useful as our present discussion. My only takeaway is he calls it investor friendly, which does give me a warm/fuzzy, but I'm not 100% sold.
Yes, that is how I read it as well. The 15% IRR seems pretty clear to me - it's just exactly what you said.
Here is what I have been using:
https://excelsiormining.com/news/news-2018/excelsior-mining-secures-us-75-million-project-financing-package
My reading of the buy down agreement is that to reduce the copper delivered by 50% Excelsior would have to pay a full 50% plus interest, not just trickle it out in lieu of annual copper deliveries. Another note: it looks like the buy out option is not available until after stage 1. I say this based on the table in the section titled "Triple Flag Expansion Option and Excelsior Buy-Down Right." I have to say this is all very complicated. I wonder if the buy down is 50% of the initial investment, or 50% of the outstanding balance.
The $13M was using the same assumptions that the early poster had used. As you note, there are actually many scenarios, so it is hard to really nail down. I thought about this a lot of different ways and was getting fairly confused, but eventually I came to some clarity. Basically, the company is receiving $65M now, and the other party is receiving $260M worth of copper over the span of many years. So the 19% number is what it would work out to if it were $13M/year for 20 years. The question is asked did I factor in that "any % of copper output provided to Triple Flag is bought by Triple Flag at 25% of copper spot price." I think the suggestion here is that the company will receive that 25% in cash. That is not how I read the agreement. To me it looks like the IOU will be diminished by that 25% and that no further cash is being given. Anyone else care to weigh in on that?
The 7.2% APR does not look correct. I think you calculated as if the entire $260M is to be paid at year 20. If you look at it as having to pay $13M/year for 20 years that works out to an APR of almost 20%.
I'm not sure I understand the $65M "stream" part of the deal. The way I'm reading it, to pay off the $65M, they will have to deliver $260M worth of copper. Can that be right?
Thanks tedro84. I do remember now about the 12 month acceleration. The release you linked gives a target of late 2018 for a "Final Investment Decision." I wonder if that might just get deferred.
Do we know what they expect to accomplish with the $150MM raised, and how much more is needed to get to production?
Could you explain about the share structure?
The price of cobalt is down, for one thing. See: https://seekingalpha.com/article/4213128-top-5-cobalt-miners-consider-recent-pullback
Whether there is anything else your guess is as good as mine.
Yes, I noticed the same thing about the Sharon Rock appeal. I suppose it is literally true, after someone withdraws their appeal, then the appeal is dismissed. But it seems deliberately misleading.
I also have some pretty good short term gains and decided to sell out the shares I had in my IRA. Probably makes no sense to hold the shares in my taxable account I guess. I first became interested in this company because they have "tasting" technology, which I thought would be widely applicable. But it seems like it is only about the flavor products, which might be characterized as fake food, and people seem to be moving away from such. Still, I am interested in where this all will end up. I see that Firmenich is a private company, so we will not be able to participate.
audi65, do you have any thought about whether a higher bid might come along?
Yes, how did you know so far in advance?
http://ih.advfn.com/p.php?pid=nmona&article=78270952
Anyway, it's good I guess, but this seems more like throwing in the towel than finally making it. Elsewhere I've seen some speculation that there could be others with higher bids, but that might be wishful thinking.
The most recent news release on their website is dated 5/22/18. It contains the following statement: "Furthermore, the company is also set to announce a potential significant Cobalt discovery that could be a company maker in its own right and is also pleased to report it is in contact with one of the largest global purchasers of Cobalt interested in establishing a long-term relationship with regard to Santa Fe Gold becoming a provider of Cobalt and possibly other rare earth elements as well." I wonder what happened to that.
https://www.globenewswire.com/news-release/2018/05/22/1510298/0/en/Santa-Fe-Gold-Encounters-Exceptional-Silver-Grades-of-up-to-36-Oz-Per-Ton-From-Alhambra-Tailings-Pre-Production-Tests.html
I guess the question isn't whether the tech works, but is it better than alternatives. But I am not even clear whether this is a mining company or a technology company.
Odd that the tweet calls it a scandium mine, given that the story emphasized nickel and cobalt. And what was that about the government possibly financing it?
It seems like this just goes up and down with bitcoin. Does anyone remember when the tzero platform is supposed to be up and running?
Trades for the last couple of months. Total of 71473 shares for $76.25.
Time Price Volume Market
07/13 0.0013 3333 OTO
07/12 0.0001 13000 OTO
07/11 0.0013 10000 OTO
07/02 0.0012 7000 OTO
06/20 0.0012 3641 OTO
06/20 0.0013 22389 OTO
06/11 0.0013 3844 OTO
06/08 0.0013 667 OTO
06/04 0.0013 6666 OTO
05/31 0.0013 833 OTO
05/22 0.0013 100 OTO
What is/was the deadline to file an appeal? Is it possible there could be more?
I guess that was pretty clear in the first place. I wonder who the seller was.
Actually, I'm unclear. Does "off-market acquisition" mean bought from a third party, or from the company?
Not making any particular point, just providing info. BTW though, your converter also gives 0.59 as the US equivalent.
Buy price is Australian $0.80, which is US $0.59.
I skimmed the 10-k. Was there anything positive hiding in there?
"Results confirm the Clean TeQ Sunrise Project’s global importance as a sustainable, long-life, low-cost source of high purity cobalt and nickel sulphates for the battery revolution." Looks like you have to be able to read the fine print to know what's going on.
Falling off a cliff here. Anyone know any reason why?
I guess the price of copper is suddenly important in my life.
https://www.nasdaq.com/markets/copper.aspx?timeframe=7d
Well, I bought another load at 0.91, so I am in very deep now. As for why the drop today, one question I have is how the trade war story might be affecting things.
LMD, Can you provide a link for that fact? I'm not sure what distinguishes this nonreporting company from all the others that still have symbols and trade.